{"id":1004155583,"date":"2016-10-14T08:45:18","date_gmt":"2016-10-14T16:45:18","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004155583"},"modified":"2020-05-12T01:45:17","modified_gmt":"2020-05-12T09:45:17","slug":"firstbank-helps-finance-chandler-hotel","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/firstbank-helps-finance-chandler-hotel\/","title":{"rendered":"FirstBank Helps Finance Chandler Hotel"},"content":{"rendered":"<p>by Evelina Croitoru<\/p>\n<div id=\"attachment_1004155585\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Town_Place_Suites.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004155585\" data-attachment-id=\"1004155585\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/firstbank-helps-finance-chandler-hotel\/town_place_suites\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Town_Place_Suites.jpg\" data-orig-size=\"480,270\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Town_Place_Suites\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Town_Place_Suites.jpg?w=480\" class=\"wp-image-1004155585 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Town_Place_Suites.jpg\" alt=\"TownePlace Suites by Marriott in Chandler, Ariz.\" width=\"300\" height=\"169\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Town_Place_Suites.jpg 480w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/10\/Town_Place_Suites.jpg?resize=300,169 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004155585\" class=\"wp-caption-text\">TownePlace Suites by Marriott in Chandler, Ariz.<\/p><\/div>\n<p><strong>Phoenix<\/strong>\u2014<a href=\"https:\/\/www.efirstbank.com\/\" rel=\"nofollow\" target=\"_blank\">FirstBank<\/a>, one of the nation\u2019s largest privately held banks, is financing the development of <a href=\"https:\/\/towneplacesuites.marriott.com\/\" rel=\"nofollow\" target=\"_blank\">TownePlace Suites by Marriott<\/a> in Chandler, Ariz. The new 57,000-square-foot hotel at 3655 W. Chandler Blvd. is scheduled to open in August 2017.<\/p>\n<p>FirstBank has arranged a $9.6 million loan to help fund construction of the four-story, 109-key hotel. The bank worked with <a href=\"https:\/\/www.hcwdevelopment.com\/\" rel=\"nofollow\" target=\"_blank\">HCW Development<\/a> and <a href=\"https:\/\/statesmancorporation.com\/main\/indexe435.html?id=home\" rel=\"nofollow\" target=\"_blank\">Statesman Group<\/a>, a joint partnership that is <a href=\"https:\/\/www.commercialsearch.com\/news\/development\/\" target=\"_blank\">developing<\/a> the project. \u201cWe\u2019re thrilled that we could partner with HCW Development and Statesman Group to help create a premier hotel that will have a positive impact on jobs and tourism here in Chandler,\u201d Joel Johnson, East Valley president of FirstBank, said in a prepared statement.<\/p>\n<p>\u201cFirstBank has proven to be a great financial partner for commercial developments,\u201d added Rick Huffman, CEO of HCW. \u201cProjects this size can be cumbersome to finance and FirstBank made this as stress-free as possible. We had one point of contact who handled initial discussions as well as the underwriting and closing of the loan, so decisions were made quickly with our best interest in mind,\u201d Rick Huffman, CEO of HCW Development, said in prepared remarks.<\/p>\n<p><em>Rendering courtesy of FirstBank<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The upcoming TownePlace Suites by Marriott landed a $9.6 million construction loan. <\/p>\n","protected":false},"author":1055,"featured_media":1004155585,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,21751,21742,1601,15],"tags":[],"class_list":["post-1004155583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-hotel","category-latest","category-phoenix","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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